(Corrects second paragraph to say the appointment of Eric Kohn to investigate the sale process, not his appointment as director, would be ineffective)
Jan 30 (Reuters) - Flybe Group Plc said its largest shareholder Hosking Partners’ request to oust Chairman Simon Laffin and investigate the British regional airline’s cut-price sale to a consortium agreed this month “was not a valid request”.
Flybe, which is being bought by Richard Branson’s Virgin Atlantic, Stobart Group and Cyrus Capital for an initial 2.2 million pounds ($2.88 million), also said a resolution to push Flybe’s directors to appoint industry veteran Eric Kohn to investigate the sale process, if proposed, would be ineffective.
Flybe shares slumped 23.9 percent after it responded to the correspondence received from Hosking.
$1 = 0.7649 pounds Reporting by Noor Zainab Hussain in Bengaluru; Editing by Bernard Orr